Trump floats income tax cut to ease tariff impact

President Trump proposed a new income tax cut on Sunday to offset the effects of his tariffs, which polls show are likely to raise consumer prices.

He suggested that many people earning less than $200,000 could see their income taxes significantly reduced or eliminated.

Trump defended his tariffs, claiming they would create jobs and boost the economy.

He has previously suggested replacing federal income tax with tariffs.

Despite this, some economists question the viability of generating enough revenue through tariffs.

As tariffs on goods from China, Mexico, and Canada, as well as on steel and aluminum, disrupt markets, most Americans expect higher prices and disapprove of Trump’s trade policies, The Hill has reported.

His remarks come as Congress prepares to address his tax agenda.

read more: https://thehill.com/business/domestic-taxes/5270339-trump-floats-income-tax-cut-to-ease-tariff-impact/

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